Saudi Red Sea oil exports to hit record high in March

According to Kpler's shipping data, at least 40 tankers might load in March, which could push exports above four million bpd.

The port has capacity to handle more than 4.5 million bpd, traders said, though it has rarely loaded more than 2.5 million bpd.

The Red Sea route also involves security risks, namely from Yemen's Houthi forces, whose attacks disrupted shipping during the Israel–Gaza conflict. No attacks in the Red Sea have been reported since the Iran war began but threats persist, the West's navy information center JMIC said on Sunday.

(Reporting by Ahmad Ghaddar in London and Nerijus Adomaitis in Oslo. Additional reporting by Enes Tunagur in London Editing by Tomasz Janowski)